Entities, such as financial institutions, may offer products or services (hereinafter, “product”) to customers. The entity may transmit correspondence to customers. The correspondence may be transmitted to the customers using any suitable methods. The entity may transmit the correspondence via email, fax, or mail. The correspondence may inform the customer that, as a result of utilizing the product, a fee is due to the entity. For example, the entity may extend an amount of credit to the customer. After a period of time, the entity may transmit correspondence informing the customer that at least a partial payment of the credit amount is due.
The correspondence may include identification information. For example, the correspondence may include a customer account number assigned by the entity to the customer. The correspondence may include an address of the customer, an amount due, information that identifies the product utilized by the customer, information that identifies the purpose of the correspondence or any other information.
The customer may detach a portion of the correspondence (e.g., a “remit coupon”) and return the portion along with a payment. The remit coupon may include the information that identifies the correspondence. An entity may offer multiple products. Each product offered by the entity may be associated with a corresponding remit coupon. An entity may transmit correspondence to hundreds of thousands of customers. The entity may receive hundreds of thousands of remit coupons.
Typically, to handle the volume of remit coupons, the entity may direct remit coupons to different locations. For example, remit coupons associated with credit card payments may be directed to a first location. Remit coupons associated with mortgage payments may be directed to second location. The entity may direct a remit coupon to a specific location by printing the specific location on the remit coupon.
When a remit coupon is received at a location, the remit coupon is processed at the location. Each location may be configured to process correspondence associated with specific product of the entity. The entity may determine when (date/time) the correspondence was received at the location. The customer may be subject to an additional fee if the remit coupon and associated payment are not received by a specified due date. The due date may be printed on the remit coupon. Based on identifying information printed on the remit coupon, the entity may determine whether a payment of an amount due has been received “on time.”
A remit coupon may be processed to identify the amount due and the customer account number assigned to the customer. The remit coupon may be accompanied by a payment. The payment may include a check. The check may be handwritten by the customer. The payment may include credit card information. The payment may include a money order. The payment may be any suitable method of payment.
Processing at the location may include analysis of the payment. For example, the payment may be analyzed to determine an amount of the payment. The amount of the payment may be credited to the customer account number as of the time the correspondence is received at the location. The amount of the payment may reduce the amount due included in the remit coupon.
It would be desirable to reduce the number of location for receiving and processing remit coupons. Maintaining different location for receiving remit coupons imposes a burden on the entity. The burden may include costs such as maintaining the location, staffing the location and maintain equipment at the location.
It would be desirable to co-mingle correspondence associated with multiple products offered by an entity. It would be desirable to process the co-mingled correspondence at a central location. Therefore, it would further be desirable to provide apparatus and methods for processing co-mingled correspondence.